Statement attributed to Cbus Super CEO Kristian Fok:
Cbus Super has today supported APRA’s announcement that the fund undertakes an independent review of our board governance and expenditure arrangements to ensure that they remain appropriate and in the best financial interests of our members.
This independent review will build on work that Cbus has previously commenced.
Cbus continues to work constructively with the regulator and will fully cooperate with the independent reviewer.
Cbus is committed to continuously improving our governance practices, policies, and procedures.
Our team of over 740 staff remain focussed on our mission to protect and grow our members’ retirement savings.
We note the allegations of criminal activity in the building and construction sector, and we condemn such activity. We support efforts by governments, regulators, and union organisations to eradicate such criminal behaviour.
ENDS
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This information is about Cbus Super. It doesn’t account for your specific needs. Please consider your financial position, objectives and requirements before making financial decisions. Read the relevant Product Disclosure Statement (PDS) and Target Market Determination to decide if Cbus Super is right for you. Call 1300 361 784 or visit cbussuper.com.au.
Cbus is the leading Industry Super Fund representing those that help build, maintain and shape Australia. As one of Australia’s largest super funds, we provide superannuation and income stream accounts to more than 920,000 members (as at 30 June 2024) and we manage $94 billion of our members’ money (as at 30 June 2024). Our members include workers and retirees, their families and employers. As of April 2022, Cbus merged with Media Super and offers Media Super products. In May 2023 Cbus Super successfully completed its merger with EISS Super, establishing the Fund as the leading fund for energy and electrical workers in Australia.
Issued 14 August 2024, United Super Pty Ltd ABN 46 006 261 623 AFSL 233792 as Trustee for Construction and Building Unions Superannuation Fund (Cbus and/or Cbus Super) ABN 75 493 363 262.